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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (25720)	4/11/2007 12:29:07 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78901

Massachusetts auto insurer SAFT: At current price, I'll try again with this one. It may, or can be, a steady business. There's not much rev. growth. SAFT's #2 or maybe #3 in a market where price cuts are being mandated by the state insurance people. Plus there are well capitalized national insurers who threaten the localized players . There's a small dividend, and the p/e (forward) is okay, but no great attraction. The key to this stock may be the company's management of their float (over $900M at cost). Apparently there's some competence there, and their skills (and risk-taking?) provide a competitive advantage (and the net investment income). Price/book at 1.3 is okay, especially if they can continue to grow book value. finance.yahoo.com Just a few shares for me as an exploratory position.